I believe the dividends were paid on a 41% or 45% upside capture. This company has been profitable for 27 years, a remarkable performance for any company, and since the 2007 IPO has maintained through a very down shipping sector decline, dividends stayed strong. They will remain the leader, and expand revenue growth...I am making a purchase next week, my view it's a good dividend and growth stock at fair value.
Bottom line, there is more room for revenue growth upside capture as the sector turns around.
It's run up hugely in the past month, and this was a solid but not stellar report, combined with the lowest quarterly dividend increase since early 2010. I think we're just retracting some of the last month's gains.